Funding Administrator

Funding Administrator MCAP at a Glance

Joining MCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success! At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering, a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.

This position is accountable for funding assigned deals having single loan advances as well as processing progress construction advances in accordance with company policies and procedures.

The incumbent’s key responsibilities are Loan Payment Processing, Cash Management and Letters of Credit administration in addition to routine administrative tasks.

The successful candidate will apply exceptional customer service skills in their interactions and relationships with our clients, third party professionals and internal staff.

• Set-up new construction loans on loan management system, internal shared drives, and investor portal.
• Instruct and liaise with external consultants: e.g. lawyers, insurance consultant, cost consultants.
• Collect, review, and verify loan documentation and funding information from various stakeholders and third parties to ensure all funding condition requirements are met prior to established funding date.
• Review and process progress advances based upon a cost consultant’s report.
• Ensure that all Investor approvals are in place for each advance and that the mortgage security is/remains in place maintaining the lender’s priority position.
• Post advance and administrative financial transactions onto the loan management system.
• Arrange for internal signoffs to an advance and liaise with the Investor(s) with respect to the satisfaction a loan’s condition precedent.
• Post advance and administrative financial transactions onto the loan management system.
• Diarize and maintain follow-up event items on the loan management system: e.g. insurance, financial statements, annual property taxes; solicitor reports.
• Issuance of monthly Borrower statements.

• Responsible for processing Letters of Credit Amendments and posting transactions on loan administration management system.
• Issuance of monthly invoicing for Letters of Credit.
• Payment processing of Letter of Credit Fees for fully cash secured Letters of Credit.
• Reconcile Letters of Credit between Bank’s records/reports and PLM.

• Post loan payments, fees, and other financial transactions on the System of Record.
• Confirm receipt of direct or wire deposit funds into MCAP’s Bank Account.
• Reconcile received closing proceeds with the respective partial or final discharge statement(s).
• Advise Cash Management, and Investor Relations of daily cash deposit transactions.
• Prepare and deliver a deposit slip for daily cash receipts to our Finance Group.
• Responsible for the preparation of the daily Bank Wires & Cheques reconciliation.

• Maintain PPSA Security and update information on PLM for tracking purposes.
• Log and input sales information on project specific sales report.
• Perform all closing functions to discharge mortgage loans.
• Responsible for sending, retrieving, and record keeping of files stored with an offsite Records Management company.

• Excellent organizational and time management skills.
• Comprehensive MS Office experience.
• Exceptional oral and written communication skills.
• Strong analytical and problem-solving skills.
• Ability to foster relationships and provide strong customer support.
• Self-driven, motivated with the ability to work independently and in a team environment.
• Post-Secondary Education (Diploma or Degree)

If this sounds like you and you are looking to be a part of one of Canada’s largest independent mortgage finance companies, then we want to hear from you!

MCAP is Canada’s largest independent Mortgage Finance company with over $150 billion in assets under management providing mortgage solutions for residential…